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April 13, 2013

Applying UITF in BPI

Yesterday
I submit all my papers and forms that I downloaded from my online banking of
BPI to apply for UITF. Maybe UITF sounds astronomies to many and for the benefit
of those who never knew UITF it means Unit Investment Trust Funds.

What is UITF?

These are investment scheme offered by the banks wherein money from different
investors are pooled or collect together into one fund to achieve success in
investment. Usually investors in UITF are those who don’t have any time to learn
more or no idea in other forms of investment like stock market and mutual
funds. It is usually called automatic vehicle where money of investors is
handle or manage by financial expertise manager in UITF. The earnings from
UITF ranges from 8% to 16% per year which is better from time deposits or
special deposit accounts in the bank, hence of course since this is investment
has it also own risk, so caveat brothers and sisters.

I am no
expert with this kind of investment although if you read my previous post I
already engaged in the stock market and so far so good. But me and hubby
decided to open another one for the fund of college education of our son and we
intend to let our son to take it over when the right time comes.

In BPI
they required their client to have an existing savings account because it is
usually done online although I think you can still do this over the counter but
I just don’t know how the process is. Some teller or staff of the bank didn’t
have any knowledge with their UITF, and I advise you to do the research first. Like
yesterday the staff of BPI has no clue what I am talking about and he needs to
phone others to know the process, but I am confident and patient that I know it
will soon materialize.

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